Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Nexxen International (NASDAQ:NEXNGet Free Report) had its price target upped by stock analysts at Needham & Company LLC from $10.50 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 24.05% from the company’s previous close.

NEXN has been the subject of a number of other research reports. Wall Street Zen upgraded Nexxen International from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Raymond James Financial raised their price target on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Craig Hallum raised shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Thursday, July 9th. Rosenblatt Securities reiterated a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a research note on Wednesday, June 17th. Finally, BTIG Research increased their price objective on shares of Nexxen International from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.89.

Read Our Latest Stock Analysis on NEXN

Nexxen International Price Performance

NEXN stock remained flat at $10.48 during trading on Wednesday. The company’s stock had a trading volume of 445,985 shares, compared to its average volume of 363,648. The firm’s 50-day simple moving average is $9.48 and its 200 day simple moving average is $7.86. Nexxen International has a 1 year low of $5.60 and a 1 year high of $11.13. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04. The firm has a market cap of $589.81 million, a price-to-earnings ratio of 34.93 and a beta of 1.60.

Nexxen International (NASDAQ:NEXNGet Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $100.52 million during the quarter, compared to analyst estimates of $93.09 million. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. On average, equities research analysts predict that Nexxen International will post 0.75 earnings per share for the current year.

Insider Transactions at Nexxen International

In related news, CFO Sagi Niri sold 17,578 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $10.51, for a total value of $184,744.78. Following the sale, the chief financial officer directly owned 126,488 shares of the company’s stock, valued at $1,329,388.88. This represents a 12.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 258,468 shares of company stock valued at $2,350,050 over the last 90 days.

Institutional Investors Weigh In On Nexxen International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rock Point Advisors LLC grew its stake in Nexxen International by 42.5% in the fourth quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after purchasing an additional 283,295 shares in the last quarter. Strs Ohio increased its holdings in Nexxen International by 35.7% in the fourth quarter. Strs Ohio now owns 83,300 shares of the company’s stock valued at $545,000 after buying an additional 21,900 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Nexxen International by 328.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company’s stock valued at $485,000 after buying an additional 56,808 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in Nexxen International during the third quarter valued at approximately $168,000. Finally, State of Tennessee Department of Treasury lifted its holdings in Nexxen International by 470.3% during the 2nd quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company’s stock worth $342,000 after buying an additional 27,110 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.

About Nexxen International

(Get Free Report)

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. The company's demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.

Further Reading

Analyst Recommendations for Nexxen International (NASDAQ:NEXN)

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